In response to rising inflation, the Bank of England has been increasing the Base Rate and in November 2022 this rose to 3%. As a result, savings rates have been increasing steadily, and are now at the highest levels for more than a decade. National Savings & Investments (NS&I) currently offer an interest rate of …

The new chancellor, Jeremy Hunt, revealed the Autumn Statement on the 17th November. A summary on the headline points is provided below: State Pension The Triple Lock for the State Pension is being reinstated, with State Pensions receiving the full inflationary increase of 10.1% (September 2022 CPI measure). As a result, the full flat-rate State …

People are being encouraged to take action to trace their lost pension pots, with almost three million pots worth a total of £26.6 billion not currently matched to their owners. The Pensions Policy Institute has published a briefing note which shows that the scale of lost pension pots has increased by £7 billion from 2018 …

Rising inflation has been a theme of 2022, and September’s inflation figure has now been announced, with the Consumer Price Index (CPI) at 10.1%. According to the Office for National Statistics, this has been driven by increases in the price of food despite declines in fuel prices. September’s CPI is a significant figure, as each …

On Friday 30th September, the Eldon team completed their ’20 Miles for 20 Years’ challenge, with a 20-mile hike around Ullswater Way. The purpose was to celebrate 20 years of the firm’s existence, with the funds raised being directed into our Charitable Fund with the County Durham Community Foundation (the Foundation). Funds will then be …

New Chancellor, Kwasi Kwarteng, announced a sweeping package of tax cuts in his mini-budget last week – the biggest the UK has seen in the last half-century. Below we have outlined the main measures. Basic rate income tax is set to reduce from 20% to 19% from 6th April 2023. This is the first cut …

As a mark of respect for Queen Elizabeth II, we will be closing our office on Monday 19th September for the funeral. We will reopen at 9am on Tuesday 20th September

We are saddened by the passing of Her Majesty The Queen who was a much loved and respected figure across the globe. She was inspirational and lived a life dedicated to public service. Our thoughts are with the Royal Family at this difficult time. Once further details of the state funeral have been announced, we …

With the cost of living crisis taking hold and energy/fuel bills increasing significantly, many individuals have been forced to make cut-backs where possible. One such area appears to be pension savings, to help provide more disposable income on a monthly basis. Whilst this may be temporary, and reductions minor, we need to consider the longer-term …

For those with invested pensions, it is crucial to understand exactly how your funds are invested. This can be particularly important as you move closer to retirement, as your plans for accessing benefits will impact the level of investment risk that is suitable. The introduction of Pension Freedoms legislation in 2015 means that you no …